Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

November 10, 2011

Citi Expands its eBam Footprint to 22 Countries

Citi, which has an impressive history of providing top level customer convenience through cutting edge technology, has announced yet another initiative to continue with this tradition. As a part of this initiative, Citi is extending the convenience of its Electronic Bank Account Management (eBAM) solution to 22 countries across EMEA, North America and Asia with plans for further expansion in 2012.

Leveraging Digital Signatures technology, Citi’s eBAM Premier solution enables clients to manage their Citi bank accounts electronically.  The solution aims to reduce reliance on paper documents and “wet signatures” and enhance security and control through use of Digital Signatures.

Citi eBAM is currently available in the United States, Canada, Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Jersey (Channel Islands), Luxemburg, Netherlands, Norway, Portugal, Sweden, Switzerland, United Kingdom, Australia, New Zealand, Hong Kong and Singapore.

Citi continues to expand the eBAM footprint to countries that do not recognize Digital Signatures by integrating paper signed requests into the platform, the officials clarified in a press release.

Citi eBAM Premier is a web-based application available through the CitiDirect BE portal, Citi’s next generation Online Banking platform. The solution leverages Web 2.0 Design concepts for enhanced functionality and richer user interaction. Designed as a  comprehensive electronic workflow tool, eBAM helps CitiBank clients efficiently manage their global Citi accounts.

The Citi Treasury and Trade Solutions clients are to especially benefit from this solution, which will help them centralize account administration or establish a Shared Service Center. eBAM Premier offers a secure, convenient and efficient means for maintaining records of all Citi accounts, legal entities and signatories, where clients and the bank view the same information.

“After an intensive pilot phase over the past 18 months, Citi has successfully rolled out our innovative Signer Management and Account Maintenance solution to 22 countries around the world. Using Digital Signatures and electronic Authoritative Workflows, eBAM Premier is a transformational product for Account Management processes. This innovative offering is part of Citi’s ongoing commitment to provide clients with new technologies that help them to optimize their Treasury processes to achieve higher efficiency,” Michael Berkowitz, head of North America Liquidity & Channel Services with Citi Global Transaction Services (News - Alert), noted in a statement.

“Our goal is to provide solutions which are strategically relevant to our clients’ business priorities and operating models. This expansion of our eBAM offering is an important step in the continued realization of delivering on that promise,”  Naveed Sulta, global head of Treasury and Trade Solutions added.

Early last month, Citibank unveiled its new consumer banking website for U.S. Consumer Banking clients. The new Citibank Online offers a dramatically streamlined design, an intuitive user experience, and brings simplicity, flexibility, and control to everyday household financial management. According to the bank, the new website marks a dramatic shift from the online banking experience currently offered by most major banks.

Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell

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